By adjusted 24-hour transaction volume, the whimsical asset beat every other except Bitcoin and Ethereum.

Compared to other major altcoins, volume was orders of magnitude larger: three times that of Bitcoin Cash (BCH)00, eight times Litecoin (LTC) 00 and thirteen times Dash (DASH) 00.

“Dogecoin may have started as a joke, but their community is now the envy of the crypto world,” Rooke commented.

DOGE is set to benefit from a raft of new features thanks to the network bridge with Ethereum, the original announcement of the plan causing much intrigue when it hit the news earlier this year.

Ether Tanks

For Ether meanwhile, price woes continue. Having slid below $200 to see lows not witnessed since July 2017, pressure on the largest altcoin is being compounded by a rapid increase in selling from ICO projects which accrued huge amounts of it over the past year.

This week alone, ICOs have spent over $30 million in ETH, Rooke notes, marking a six-month high.

“These ICOs still have over $600,000,000 worth of treasury ETH in their accounts (3,000,000+ ETH),” he added.

ICOs have spent over $30 million worth of ETH this week (153,500 ETH).

This is more than any week since March 2018.

The scary part? These ICOs still have over $600,000,000 worth of treasury ETH in their accounts (3,000,000+ ETH).